Amortization Trigger means Co-Borrowers delivery of evidence, satisfactory to Bank in its sole discretion, that on or prior to March 31, 2021, Co-Borrowers have (i) an ongoing phase 3 or, if a Biologics License Application has been submitted to the Food and Drug Administration, phase 4 clinical trial evaluating Molgradex for the treatment of autoimmune pulmonary alveolar proteinosis, and (ii) the first patient in connection with such phase 3 or phase 4 clinical trial has been dosed.
Amortization Trigger means the occurrence of either of the following the prior to the first anniversary of the Closing Date: (i) if Borrower’s average trailing 3 months of recurring revenue growth is less than $0; or (ii) Borrower’s EBITDA for any trailing 3 month period negatively deviates by the greater of (i) more than 20% from Borrower’s projected EBITDA for such period as set forth in Borrower’s board-approved financial projections (which, for the second half of 2016 are attached hereto as Exhibit B) and (ii) $50,000.
Amortization Trigger. If at any time Borrower’s Cash plus Availability is less than (i) $2,000,000, measured as at the end of each calendar quarter or (ii) $1,500,000, measured as at the end of each of the first two months of each quarter, Borrower shall, if so required by PFG at its sole option, repay the Loan as if the Loan had ab initio been a term loan amortized over a thirty-six (36) month period. PFG shall exercise its right to require amortization of the Loan within 30 calendar days after receipt of any Borrower report showing non-compliance with the amortization trigger threshold for any period. For example, if Borrower fails to meet an above-referenced threshold 6 months after the date hereof and PFG then requires the Loan to be amortized, Borrower would thereafter repay the Loan by making monthly principal payments $41,666.67, plus interest, over a period of 30 months. The failure of Borrower to meet any foregoing threshold whether or not resulting in an amortization, shall not, by itself, constitute an Event of Default under this Agreement.
Examples of Amortization Trigger in a sentence
The Indenture Trustee shall have no duty to monitor the occurrence of a Performance Trigger, Rapid Amortization Trigger or any events resulting in withdrawals from the Transfer Obligation Account.
In addition, if the term of the Loan is extended in accordance with the provisions hereof, then upon the occurrence of any Contingent Amortization Trigger Event, Borrower shall make payments of Contingent Amortization as required pursuant to Section 4.1.11 of the Building Loan Agreement.
Upon the occurrence of (i) an Event of Default or Default under this Agreement or the Indenture or (ii) a Rapid Amortization Trigger, the Initial Noteholder (if still a Noteholder) may, in its sole discretion, terminate the Revolving Period.
Upon the occurrence of a Rapid Amortization Trigger Event, the Seller shall only receive payments in respect of the purchase price for any Additional Balance from the Reserve Account, funded by the Holder of the Class L Certificate.
Whether any Event of Default, Remedies Event, Enforcement Event, Sequential Amortization Trigger Event or Tax Event has occurred and, if any such event has occurred, whether either such event is continuing.
More Definitions of Amortization Trigger
Amortization Trigger means Borrower’s failure to maintain a minimum cumulative Free Cash Flow in the amount set forth below for the corresponding cumulative period, as follows: · Three (3) months ending March 31, 2009 $600,000 · Six (6) months ending June 30, 2009 $1,000,000 · Nine (9) months ending September 30, 2009 $1,800,000 · Twelve (12) months ending December 31, 2009 $2,400,000 · Each fiscal quarter thereafter will replicate the quarterly requirement for the 2009 fiscal year.
Amortization Trigger means [***].
Amortization Trigger means [***]. “Amortization Trigger Date” means the first date that both of the following conditions have been satisfied: (a) the Amortization Trigger shall have occurred and (b) the Administrative Agent shall have notified the Issuer in writing that the “Amortization Trigger Date” shall have occurred. “ANDA” means an abbreviated new drug application filed with the FDA pursuant to section 505(j) of the FDCA, along with all supplements and amendments thereto, and any similar application for marketing authorization required by any country, jurisdiction or Governmental Authority other than the United States. “Applicable Eligible Foreign Subsidiary Documents” has the meaning set forth in Section 6.30(a). “Applicable Percentage” means with respect to any Purchaser at any time, (a) in respect of the First Tranche, with respect to any First Tranche Purchaser at any time, the percentage (carried out to the ninth decimal place) of the First Tranche represented by (i) on or prior to the Closing Date, such First Tranche Purchaser’s First Tranche Note Purchase Commitment at such time and (ii) thereafter, the outstanding principal amount of such First Tranche Purchaser’s First Tranche Notes at such time, (b) in respect of the Second Tranche, with respect to any Second Tranche Purchaser at such time, the percentage (carried out to the ninth decimal place) of the Second Tranche represented by (i) on or prior to the Second Tranche Notes Issuance Date, such Second Tranche Purchaser’s Second Tranche Note Purchase Commitment at such time and (ii) at any time thereafter, the outstanding principal amount of such Second Tranche Purchaser’s Second Tranche Notes at such time and (c) in respect of the Third Tranche, with respect to any Third Tranche Purchaser at such time, the percentage (carried out to the ninth decimal place) of the Third Tranche represented by (i) at any time during the Third Tranche Availability Period, such Third Tranche Purchaser’s Third Tranche Note Purchase Commitment at such time and (ii) at any time thereafter, the outstanding principal amount of such Third Tranche Purchaser’s Third Tranche Notes at such time. The initial Applicable Percentage of each Purchaser in respect of each Notes Tranche is set forth opposite the name of such Purchaser on Schedule 2.01, in the Third Tranche Joinder Agreement or in the Assignment and Assumption pursuant to which such Purchaser becomes a party hereto, as applicable.
Amortization Trigger means the occurrence of an “Accelerated Amortization Event” as defined in that certain Revolving Credit and Security Agreement dated as of November 15, 2015 by and among Upstart Loan Trust, and the lenders and the administrative agent party thereto (as amended, restated, supplemented or otherwise modified from time to time with the prior written consent of the Bank, the “Xxxxxxx Credit Agreement”).
Amortization Trigger means Co-Borrowers delivery of evidence, satisfactory to Bank in its sole discretion, that on or prior to June 30, 2021, Co-Borrowers have (i) an ongoing phase 3 for the treatment of autoimmune pulmonary alveolar proteinosis, and (ii) the first patient in connection with such phase 3 clinical trial has been dosed.
Amortization Trigger. If Borrower falls below the Liquidity Ratio (defined below), PfG has the right but not the obligation to amortize the loan as if it were a three year loan with equal monthly principal payments of $222,222. For example, if the Company fell below the Liquidity
Amortization Trigger means the earliest to occur of the following: (i) the Conversion Trigger, (ii) the Company having continuous positive cash flow for two (2) consecutive calendar quarters, or (iii) the second (2nd) anniversary of the issuance of this Note.